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3500 Wilshire, Koreatown "Jewel Box" Asset, Sold For $22.5 Million
Rezul News/10605393
LOS ANGELES - Rezul -- 3500 Wilshire, a two-story, approximately 20,800 SF structure that sits on a prime site at the corner of Wilshire Blvd and Normandie, recently sold for $22.5 million. The seller was KTown Metro Plaza LLC, an entity owned by Sean Hashem, principal of Greenbridge Investment Partners. The buyer was undisclosed.
"This site has already been designated as a Transit Oriented Communities (TOC) affordable housing site, and has the rights to build between 170-329 units making it a prime development opportunity given our city's housing needs," said Hashem in making the announcement.
The highly-trafficked building boasted multiple second-generation restaurant spaces and one fully built-out bar. The property also has excellent visibility on the corner of Wilshire Blvd. and Normandie, near the Purple Metro Line. The former food hall also sits adjacent to The Line Hotel.
"Our focus is identifying underachieving properties and transforming them into best-in-class assets. I look forward to working on more commercial value-add projects with development potential, similar to this property in Koreatown," adds Hashem.
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With 35 years of experience as a commercial real estate expert specializing as an owner and developer, Hashem's current focus are projects in the $10M-$200M range. His specialty is in office, medical and retail properties. His experience includes all aspects of real estate acquisitions, repositioning, dispositions, sale/leasebacks, landlord/tenant matters, asset management activities, construction management, real estate management, loan negotiations, and brokerage activities.
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About Greenbridge Investment Partners
Founded in 2012, Los Angeles-based Greenbridge Investment Partners is a full service, commercial real estate firm that specializes in ownership, property management, leasing, construction and turnaround of value-add and core plus properties. The firm is dedicated to providing transparent, proactive solutions that leave positive and profitable outcomes for all our stakeholders. For information, visit www.greenbridgecorp.com
"This site has already been designated as a Transit Oriented Communities (TOC) affordable housing site, and has the rights to build between 170-329 units making it a prime development opportunity given our city's housing needs," said Hashem in making the announcement.
The highly-trafficked building boasted multiple second-generation restaurant spaces and one fully built-out bar. The property also has excellent visibility on the corner of Wilshire Blvd. and Normandie, near the Purple Metro Line. The former food hall also sits adjacent to The Line Hotel.
"Our focus is identifying underachieving properties and transforming them into best-in-class assets. I look forward to working on more commercial value-add projects with development potential, similar to this property in Koreatown," adds Hashem.
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With 35 years of experience as a commercial real estate expert specializing as an owner and developer, Hashem's current focus are projects in the $10M-$200M range. His specialty is in office, medical and retail properties. His experience includes all aspects of real estate acquisitions, repositioning, dispositions, sale/leasebacks, landlord/tenant matters, asset management activities, construction management, real estate management, loan negotiations, and brokerage activities.
###
About Greenbridge Investment Partners
Founded in 2012, Los Angeles-based Greenbridge Investment Partners is a full service, commercial real estate firm that specializes in ownership, property management, leasing, construction and turnaround of value-add and core plus properties. The firm is dedicated to providing transparent, proactive solutions that leave positive and profitable outcomes for all our stakeholders. For information, visit www.greenbridgecorp.com
Source: Greenbridge Investment Partners
Filed Under: Real Estate, Property
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